Crude Oil Futures Ease on Weak Spot Demand
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Crude oil futures fell slightly to Rs 5,760/barrel on MCX due to weak spot demand. WTI & Brent Crude prices also declined in New York.
New Delhi, Aug 5 (PTI) Crude oil futures on Tuesday marginally fell Rs 3 to Rs 5,760 per barrel, as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 3, or 0.05 per cent, to Rs 5,760 per barrel in 1,859 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.02 per cent lower at USD 66.28 per barrel, while Brent Crude fell 0.28 per cent to USD 68.57 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 3, or 0.05 per cent, to Rs 5,760 per barrel in 1,859 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.02 per cent lower at USD 66.28 per barrel, while Brent Crude fell 0.28 per cent to USD 68.57 per barrel in New York.
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